You’ve probably heard that 20% of your efforts produce 80% of your results.
That’s great that some of your systems are working so well. But what about the remaining 80% of your efforts? Why are you hanging on to those underperforming systems?
Take a close look at your operations and look for any practice that isn’t working for you as well as it should. Consider the following:
Purge your contact list. How many email subscribers actually interact with your content? How many even open your emails or watch your videos? Many content management systems track engagement. Consider purging anyone who hasn’t meaningfully interacted with you in a while. Your total numbers may shrink, but your actual audience will stay the same.
Organize your website. Where do visitors go when they visit your website? Tools like Google Analytics will tell you all kinds of information about how your website is used. You may be able to phase out entire underperforming sections of your website and few people will even notice. This will give you more time to focus on your most popular functions.
Audit your social media. Maybe you don’t need to be on every single platform. Effective social media requires consistent and thoughtful brand building. Which platforms do your clients and prospects use most? Where are you getting the most engagement? Where would more effort yield the most growth? Focus your efforts there and phase out everything else.
Review productivity. This principle applies to personnel, too. Are any agents significantly underperforming? Can the situation be fixed with better training, guidance, or organization? If not, you may want to consider parting ways with those agents.
Ask buyers to get pre-qualified. Don’t invest time in buyers who may not be able to borrow the needed funds to purchase a property. Ask buyers to get pre-qualified before taking them on as clients.
Look at your expenses. On what does your business spend money? Are you maintaining expensive subscriptions, memberships, or services? Are you leasing any underperforming equipment or office space? How much are these expenses helping your business? Each expense you can reduce frees up money for other, more profitable investments.